China’s Douyu Plans US IPO to Raise Millions of Funds
Douyu, China’s game streaming company has plans to raise around $600-$700 million through a US initial public offering (IPO) by cashing in on the esports phenomenon that is firmly holding the attention of the Chinese population.
The Chinese entertainment platform offers in-game live streaming, where viewers can watch players play live or live recorded videos. According to the sources, the leading game streaming platform had been considering a Hong Kong listing early this year but has now shifted its interest towards a US IPO.
The Tencent-backed company was founded in 2014, and since then has emerged into a unicorn with a valuation of over 20 billion yuan ($2.95 billion). The latest funding round of the company worth $630 million led by Tencent was held in March this year.
The comp...